JAY Z's investment group buys Comic Book Grading Company CGC

JAY Z's investment group buys Comic Book Grading Company CGC

The CGC parent company, the Certified Collectables Group is set to be acquired by Blackstone Tactical Opportunities investment Group that includes Jay Z's company ROC Nation.

By DocFry - Jul 02, 2021 02:07 AM EST
Filed Under: Comics
Source: Greysheet

The CGC parent company, the Certified Collectables Group is set to be acquired by Blackstone Tactical Opportunities investment group, which includes Jay Z's company, ROC Nation.  Founded in 1987, the CCG companies and witness authentication services have certified more than 60 million coins, banknotes, comic books, trading cards, sports cards, stamps, estate items and related collectibles.  

Blackstone Tacticle Oppertunities is an investment group composed of clients that seeks out differentiated investment opportunities.  Blackstone acquired a majority stake valuing the company at more than $500 million. Mark Salzberg and Steven R. Eichenbaum, CCG founder and CEO, will retain a significant minority stake allowing CGC's leadership to stay in place while providing them with access to Blackstone's extensive resources.  

This includes ROC Nation, an entertainment company representing figures from across the board of Music, Sports, Literature, TV and Film which includes the likes of Rihanna, Shakira and Jaden Smith.  With the collectables market unprecedented  growth over the past year due to the covid 19 pandemic and cancellation of conventions across the world, collectors and speculators have relied and grown online services.  

CGC has been receiving an unprecedented  amount of comics while growing their cliental by appearing more often at private signings for the likes of Harrison Ford and Sylvester Stallone for companies such as SWAU and Official Pix, whose signing prices have now grown over $1000+.  With this acquisition the Certification company will have closer links to the entertainment industry providing unprecedented opportunities for collectors everywhere.

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PC04
PC04 - 7/2/2021, 6:25 AM
Jay z Be like "Hah It's ya boy! Went from phonics to grading comics, growing the brand. Daily Bugle and Google shouting head lines like 'HEY LOOK AT YOUR MAN!'. Collecting paper like Professor Xavier gathering the mutant team. Pick up a book and take look you'll see what I mean..."

=)
marvel72
marvel72 - 7/2/2021, 6:51 AM
I have about 15 cgc graded comics,the best thing to happen to comic book industry.
GeneralZod
GeneralZod - 7/4/2021, 9:30 PM
@marvel72 - True. CGC brought transparency and independence to the hobby, which in turn brought credibility and liquidity to the vintage comic book marketplace. Comic book collecting is serious business today.

DamageCase82
DamageCase82 - 7/2/2021, 9:45 AM
Good luck getting any key issues for cheap now, this is gonna make buying comics a rich mans hobby now. And if you thought CGC was expensive before just wait
marvel72
marvel72 - 7/2/2021, 11:25 AM
@DamageCase82 - I haven't ever submitted any of my comics yet,it's because of the turnaround time. They are so far behind with submissions.

I buy all mine from ebay or UK comic shops.
GeneralZod
GeneralZod - 7/4/2021, 9:33 PM
@DamageCase82 - Still plenty of affordable keys out there -- maybe not the mega keys, but there are diamonds in the rough to be found. I totally agree that CGC grading fees will only keep going up.
GeneralZod
GeneralZod - 7/4/2021, 9:35 PM
@marvel72 - I haven't submitted to CGC or CBCS in years. I like buying raw books, unless it's a big key.
dragon316
dragon316 - 7/8/2021, 3:23 AM
@DamageCase82 - depends on sellers I bought ultimate fallout 1 signed first print under 400. Cgc graded eBay seller was ass swapped out case put it in but it is signed
dragon316
dragon316 - 7/8/2021, 3:24 AM
@marvel72 - try egs, pgx, cbcs there fast then cgc
GeneralZod
GeneralZod - 7/4/2021, 9:33 PM
@DocFry thanks for posting this.
SolarSoldier
SolarSoldier - 7/6/2021, 5:19 AM
Unrelated, but I'm interested in where this NFT realm goes based on the pandemic and cryptocurrency.
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